Wells Fargo & Company Issues Positive Forecast for Kontoor Brands (NYSE:KTB) Stock Price

Kontoor Brands (NYSE:KTB) had its price target increased by Wells Fargo & Company from $95.00 to $100.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities research analysts have also recently issued reports on the company. Barclays upped their price objective on Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. UBS Group dropped their price objective on Kontoor Brands from $112.00 to $108.00 and set a “buy” rating on the stock in a research note on Tuesday. Stifel Nicolaus cut Kontoor Brands from a “buy” rating to a “hold” rating and upped their price objective for the stock from $89.00 to $93.00 in a research note on Friday, November 1st. Finally, Guggenheim boosted their target price on Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, November 1st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $96.33.

Kontoor Brands Trading Up 0.5 %

Shares of Kontoor Brands stock opened at $89.72 on Thursday. Kontoor Brands has a 12-month low of $52.95 and a 12-month high of $96.80. The stock has a market cap of $4.95 billion, a P/E ratio of 20.21, a P/E/G ratio of 2.12 and a beta of 1.19. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. The business’s 50 day moving average is $87.14 and its 200-day moving average is $82.78.

Kontoor Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 10th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Monday, March 10th. Kontoor Brands’s dividend payout ratio is 46.85%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC acquired a new position in Kontoor Brands in the 3rd quarter valued at $332,000. Janus Henderson Group PLC grew its holdings in Kontoor Brands by 31.4% in the 3rd quarter. Janus Henderson Group PLC now owns 47,474 shares of the company’s stock valued at $3,883,000 after buying an additional 11,337 shares in the last quarter. Fortitude Family Office LLC grew its holdings in Kontoor Brands by 407.3% in the 4th quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock valued at $36,000 after buying an additional 334 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Kontoor Brands by 8,078.0% in the 3rd quarter. International Assets Investment Management LLC now owns 28,623 shares of the company’s stock valued at $2,341,000 after buying an additional 28,273 shares in the last quarter. Finally, Natixis Advisors LLC grew its holdings in Kontoor Brands by 6.7% in the 3rd quarter. Natixis Advisors LLC now owns 17,383 shares of the company’s stock valued at $1,422,000 after buying an additional 1,087 shares in the last quarter. 93.06% of the stock is owned by institutional investors and hedge funds.

Kontoor Brands Company Profile

Kontoor Brands, Inc, a lifestyle apparel company, designs, produces, procures, markets, distributes, and licenses denim, apparel, footwear, and accessories, primarily under the Wrangler and Lee brands. The company operates through two segments: Wrangler and Lee. It licenses and sells apparel under the Rock & Republic brand name.